A two-bedroom flat was bought in 35 minutes by crowdfunders.
The £509,600 property brought in investments at the rate of £14,560 a minute, with £1,582 the average individual investment.
The property, in Tower Hill, London, was put on the residential crowdfunding platform Property Partner.
Property Partner, which aims to be to property investment what the London stock exchange is to shares, launched in January. In its first six months it has invested over £5m in 18 properties and had over 40,000 people registered on its site.
The Tower Bridge flat is the most expensive property to be sold from the platform so far.
The other properties fully crowdfunded to date range from a £165,000 flat in Ilford, north-east London, to a £435,000 flat in Whitechapel, east London, situated close to a future Crossrail station.
Dan Gandesha, CEO of Property Partner, said: “As more people hear about Property Partner, the time it takes to fund properties is getting shorter and shorter.
“The Tower Hill property is a prime example of this. To raise more than half a million pounds in just over half an hour is very exciting.”
Innovative? scary? or awaiting future financial investigation/regulation?
if something appears to be too good to be true… it usually…. ?
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Interesting….
I spoke to an investor just yesterday about this and he said he wouldn’t invest in this because of that reason ‘too good to be true’ but he said he’d keep an eye on it and would definitely wait and see. lets see what the future holds for this
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